Noranda in New Madrid laying off 75 employees

Noranda in New Madrid laying off 75 employees

NEW MADRID, MO (KFVS) - Noranda Aluminum in New Madrid announced it will lay off 75 workers.

Noranda Aluminum Holding Corporation announced the layoffs involving about 190 employees and contract workers across the company. 

The layoffs include around 75 employees in the Company's Primary Aluminum business in New Madrid, 30 to 40 employees each in its Alumina, Bauxite, and Flat-Rolled Products businesses, and approximately 10 employees in the Company's Corporate function.

The majority of those jobs cuts will happen before the end of 2013, according to the company.

The company estimates the layoffs will save around $15 million annually.

The company's CEO Layle K. "Kip" Smith says the reduction will not impact service levels for customers.

As of November 30, 2013 Noranda employed approximately 2,500 people.

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